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Com2uS
Com2uS 2023 3Q Financial Results
Key insights
7 takeaways- 01Consolidated 3Q23 operating profit was a deficit of 1.6 bn KRW, while parent-company standalone operating profit was 13.9 bn KRW, up 13.1% year on year.See it on page 3
- 02Consolidated 3Q23 net profit was 9.6 bn KRW, down 56.4% year on year.See it on page 3
- 03In 3Q23, parent-company sports game sales rose 54.8% year on year, driven by the success of MLB 9 Innings Rivals and strong performance of existing baseball games.See it on page 5
- 04Overseas game sales were 101.4 bn KRW in 3Q23, up 19.2% year on year, and accounted for 70.9% of game sales.See it on page 6
- 05In 3Q23, media, etc. sales fell 25.9% year on year to 43.8 bn KRW, and the document attributes the decline to increased market competition and a lack of large-scale projects.See it on page 3
- 06Marketing costs rose 3.5% year on year in 3Q23, which the document links to the launch of three new games.See it on page 7
- 07Parent-company RPG sales declined 5.3% year on year in 3Q23, excluding the impact of the Cookie Run: Kingdom collaboration and the launch of Chronicles.See it on page 5
Summary
Com2uS released its consolidated K-IFRS earnings results for the third quarter of 2023, provided before the external audit of those results was completed, so parts of the document may change. The document covers consolidated and parent-company results, sales by genre and region, the game business, cost breakdown, a new game lineup, media and K-pop operations, and financial statements. Consolidated 3Q23 revenue was 186.7 bn KRW, up 0.3% year on year and down 18.2% quarter on quarter. Consolidated 3Q23 operating profit was -1.6 bn KRW, and net profit was 9.6 bn KRW, down 56.4% year on year. In 3Q23, game sales were 142.9 bn KRW, up 12.5% year on year, while media, etc. sales fell 25.9% year on year to 43.8 bn KRW. At the parent-company level, standalone 3Q23 revenue was 137.6 bn KRW, up 10.9% year on year, and operating profit was 13.9 bn KRW, up 13.1% year on year. In 3Q23, overseas game sales were 101.4 bn KRW, up 19.2% year on year, making up 70.9% of game sales.
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